Norsk Hydro Posts Loss In Q4

Norsk Hydro AsaShs

7.50 EUR -6.25%

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(RTTNews) - Norsk Hydro ASA (NHYDY, NHYKF, NOH1.F, NHY.OL) reported a fourth quarter net loss attributable to shareholders of 2.36 billion Norwegian Kroner compared to profit of 1.91 billion Kroner, prior year. Loss per share attributable to shareholders was 1.20 krona compared to profit of 0.96 krona. Adjusted EBITDA declined to 5.59 billion Kroner from 7.70 billion Kroner, last year. Adjusted earnings per share was 0.70 krona compared to 1.11 krona. The company noted that the results decreased from lower realized alumina prices and a stronger NOK. Fourth quarter total revenue and income declined to 48.86 billion Norwegian Kroner from 56.90 billion Norwegian Kroner.

"Strong aluminium metal prices continued to provide tailwinds in the fourth quarter, driving near-record earnings in our primary aluminium business and offsetting weak downstream markets. This highlights the robustness of Hydro's financial position and diversified portfolio," said Eivind Kallevik, CEO of Hydro.

Norsk Hydro is trading at 88.36 Kroner, down 0.36% since open on Friday at Oslo.

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